As the market correction wipes out nearly $500 billion in market cap, large portfolios are not sitting idle. Instead, they are accumulating heavily on specific altcoins like HYPE and PEPE. On-chain data reveals strategic movements on these tokens, attracting whales' attention amidst the current volatility. What insights do they possess that the market is yet to uncover?
Institutional investors and whales have quickly responded to the recent market crash by deploying significant capital. According to data from Lookonchain, a recognized blockchain analytics platform, several whale addresses have made massive purchases in recent days. The address qianbaidu.eth notably withdrew 657.8 billion PEPE tokens from Binance, worth approximately $4.44 million. This operation demonstrates renewed confidence in this memecoin despite the generally bearish sentiment.
The same whale simultaneously transferred 8.67 million USDC to Hyperliquid to acquire HYPE tokens. This strategic diversification between memecoins and infrastructure tokens illustrates a calculated approach rather than mere speculation. Another wallet identified as 0x2bfb spent 4.97 million USDT to buy 600.88 billion PEPE, confirming the persistent enthusiasm of whales for this asset.
The address 0x9b83 joined the movement by acquiring 140,145 HYPE tokens valued at approximately $5.5 million. Even more revealing, this wallet opened long positions on Bitcoin and HYPE, a clear bullish signal in a post-correction context. This whale’s total holdings now reach over $14 million, with HYPE representing its largest allocation.
The HYPE token is currently going through a consolidation phase after falling approximately 10% in 24 hours to settle around $40.27. The price is now testing a technical support zone between $40 and $44, a level that has already demonstrated its robustness during previous corrections. The buying volumes observed from whales at these levels suggest strategic accumulation in anticipation of a rebound.
If this support zone holds, technical analysts anticipate a potential return to $50 in the coming weeks. The order book structure shows a significant concentration of liquidity around $40, reinforcing the probability of a technical bounce. Momentum indicators remain mixed, however, with an RSI close to neutral leaving the door open to several scenarios.
The growing interest of whales in HYPE is also explained by the project’s fundamentals and its positioning in the decentralized exchange ecosystem. Trading volumes on Hyperliquid have increased significantly, creating a favorable environment for the native token.
The PEPE memecoin is evolving in a delicate technical configuration. The price is currently encountering a major resistance around $0.00000725, a level that has repelled several breakout attempts during recent sessions. A confirmed break of this zone could propel the token towards $0.00000750, offering potential gains of around 15% from current levels.
The RSI remains slightly above 50, suggesting a precarious balance between buyers and sellers. This technical configuration indicates that an external catalyst or additional accumulation by whales could tip the trend. The implied volatility remains high, typical of memecoins after a major correction, offering swing trading opportunities for experienced traders.
Trading volumes for PEPE have jumped by more than 30% following massive purchases by whales, a sign that the market is closely monitoring this token. The action of large wallets often acts as a precursor signal for retail, which might follow the movement if the trend continues. Market psychology remains fragile, however, and any new macroeconomic shock could call this accumulation dynamic into question.
After a period of intense volatility, PEPE is currently trading around $0.0000071, a level that several analysts consider a strategic accumulation zone before a possible major rebound. Whales are massively accumulating again, indicating that the market is preparing for a meteoric rise.
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